Sarvatra Tech logs over 3-fold jump in Aadhar-enabled transactions in rural India amid lockdown

NEW DELHI: Sarvatra Technologies, a cost and banking options supplier, on Wednesday stated it has witnessed a three-fold rise in Aadhar-enabled money withdrawal in rural areas amid the COVID-19 pandemic.
The firm stated it’s providing companies like door-step money supply, deposits, funds switch, amongst others in small villages and cities the place ATMs and common banking infrastructure are unavailable.

It stated the financial wants of rural India are being catered via varied modes similar to UPI, IMPS, AePS, ATM, micro ATM, PoS.

Sarvatra stated as the federal government has introduced the Rs 1.7 lakh crore monetary assist to the needy on account of coronavirus pandemic, its AePS (Aadhar enabled Payment System) platform has witnessed an exponential rise of 353 per cent in money withdrawals.

Sarvatra’s wide selection of choices have additionally enabled different monetary establishments similar to BCs (enterprise correspondents) to efficiently lengthen cash switch and money disbursal companies.

The monetary companies supplier stated cash transactions via its platform are serving clients of over 600 small co-operatives, district in addition to scheduled industrial banks other than small finance banks in the 30 states and union territories in the course of the pandemic.

The record additionally has giant banks like ICICI Bank, IDBI Bank, Punjab National Bank, Bank of Maharashtra, apart from new era small finance banks like Equitas, Jana and Capital, it added.

“In the 30 days of lockdown, in addition to transactions conducted at regular ATM machines, hundreds of mobile ATM Vans and thousands of micro ATMs of our banks have provided doorstep banking services across India to 15 lakh unique customers, including senior citizens,” stated Mandar Agashe, founder and managing director, Sarvatra Technologies.

Banking in the rural areas the place Sarvatra gives its PaaS (platform as a service) companies has remained unaffected in the midst of the lockdown.

With the assistance of Sarvatra, the rural banking trade has been capable of overcome a number of logistical challenges that would have impeded seamless monetary companies throughout this disaster, the corporate stated.

Its purpose is to drive prime applied sciences to the underside of the pyramid and assist monetary inclusion of the remotest particular person, stated Vallabh Bhanshali, chairman, Sarvatra Technologies.

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